An employee said something interesting to me the other day and it got me thinking. She came up to me and said that I was the person to see for some money saving tips. I can't escape my Scottish heritage. I do tend to be frugal and it seems my coworkers know it.
Anyway, I obliged and gave her a few of my tips and then I asked the staff to share theirs. The following is a brief compilation of some the ideas:
- Have a savings goal. If you are saving for something such as a vacation, it makes you more likely to think twice about impulse buys.
- Pay yourself first. Make sure you max your 401K or 403b, especially if your organization matches funds. If not, you're giving up free money. Also, set up automatic investments to coincide with paydays. That way the money is gone before you have the chance to blow it.
- Drink water at restaurants. The price of sodas & tea has exploded. It is up over $2.50 at most places now.
- Rent movies from a Red Box or even the Library. Yes, the library has a good collection of movies. My kids go once a week and pick a few videos which they watch over and over again. Also, many websites such as hulu.com stream free movies.
- If you have a friend that you work with and the two of you live close by, you can car pool to save on gas. Joseph & I have made a point of it to carpool. It is a great way to save money and the environment at the same time. Also, it gives you the chance to catch up with a coworker or in our case discuss business on the way to and from the office.
- PRICE MATCH: I have taken advantage of that at BEST BUY and WALMART. A BLUE RAY COMBO PACK was selling at Target for 10.00 Best Buy had it at 20.00 , they matched it !! I saved a drive and earned more points on my REWARD ZONE CARD. I like this and would take it one step further: don’t be afraid to bargain or haggle with retailers. In some cases, they will work with you not just on price. For example, free delivery/shipping or no interest financing. Also, be willing to walk away if they don’t budge.
Now it's your turn. Feel free to share your Money $aving tips.
